This year, the pharmacy chain will open around 12 locations, each about half the size of its traditional stores.

CVS is continuing the overhaul of its nationwide network, closing more locations this year and opening new, smaller stores that focus on pharmacies.

Retail pharmacies are embracing the idea that less is more as they grapple with online competitors, lagging reimbursement, sluggish consumer demand and employee burnout. Driving the news: CVS Health this week confirmed it's rolling out roughly a dozen downsized stores,